US Representative Jo Ann Emerson has lukewarm feelings towards the Bush Administration’s proposed financial bailout package. Emerson, who represents Missouri’s 8th District, believes Congress should avoid rushing into a decision without understanding the full extent of the crisis.

Emerson also questions if this is the final financial situation that the government will have to address. “We were told back when the bailout of Bear Stearns was done that Bears Stearns was it,” she cites. “And, well Fannie Mae, Freddie Mac, and then suddenly we had AIG, and then suddenly it was this.”

Emerson believes that the Administration and Congress still do not have a complete assessment of the situation. Rushing to give $700 million to the Treasury Department may or may not stop the bleeding, but she says “I don’t know if anybody can answer that question.”

She says that she would prefer to stay in session until Christmas instead of hurrying a flawed bill.